This week in MENA "3 July 2026" Peace

Research evidence excerpt

This week in MENA "3 July 2026" Peace

Global Research

3 July 2026ab

This week in MENA Equities

EMEA Emerging3 July 2026

Financial

Jon Peace

Ceasefire uncertainty leads main MENA markets lower Analyst

Uncertainty around the ceasefire led the main MENA markets lower this week, with jon.peace@ubs.com

Saudi falling -1.3% and UAE falling -0.8%, though they still outperformed the +44-20-7567 0638

MSCI EM Index (-1.3%) given weakness in Korea. Consumer and Telcos led the gains, Ulyana Lenvalskaya

while Insurance and Materials were among the weaker sectors. Next week will see the Analyst

start of the Q2 results season led by Almarai and QNB. ulyana.lenvalskaya@ubs.com

+971-443-64776

Macro news and research Alexander Estefanous, CFA

SAMA monthly statistics: Loan growth slows to 7.1% YoY Analyst

alex.estefanous@ubs.com

QCB monthly statistics: Loan growth improves to 6.8% YoY +44-20-7567 0508

CBK monthly statistics: Loan growth slows to 9.9% YoY Thando Skosana

Analyst

EM Credit mid-year outlook: A fresh look at EM credit following oil price thando.skosana@ubs.com

normalizing +44-20-7568 6457

Luis Schmidt Hormuz tracker: More inbound tankers, crude loadings yet to catch up with

Associate Analyst

outbound flows

luis.schmidt@ubs.com

Hedge funds, banks adding offices help Dubai Inc withstand conflict (BBG) +44-20-7567 0847

Anna Kishmariya

Wall Street firms bolster Gulf teams to tackle M&A surge (BBG)

Saudi oil flows hit 90% of pre-conflict rate as ships exit Hormuz (BBG) anna.kishmariya@ubs.com

+44-20-7568 7999

Dubai visa data points to recovery in expatriate hiring (AGBI)

Henri Patricot, CFA

Saudi Arabia seeks proposals for commodities exchange launch (AGBI) Analyst

henri.patricot@ubs.com

PIF reports doubling in profits (AGBI) +33-14-888 3033